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Clifford Chance Advises State Development Bank of Poland on Financing of Factory in Prenzlau

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Clifford Chance has advised Bank Gospodardstwa Krajowego (The State Development Bank of Poland) in connection with a facility granted to Boryszew — a multinational corporation in the automotive industry — to finance the reinstatement of production capacity in a factory of plastic injection galvanized elements for the motor industry, located in Prenzlau, Poland.

The investment is being implemented with additional financing from the German federal state of Brandenburg in cooperation with PKO Bank Polski Niederlassung Deutschland.

The investment in Prenzlau is valued at more than EUR 21 million. It is expected that the factory, which has an area of 15,000 square meters, will be operative by the end of 2016. Its modern technological line will eventually have the capacity to galvanize almost 400,000 square meters of plastic elements a year.

The Boryszew Group has 20 factories in eight countries on three continents, and 8,000 employees. The group includes the Maflow group, AKT, Theyson, and Elana, as well as Hutme, Baterpol FLT and ZM, which belong to Impexmetal Huta Aluminium Konin.

Bank Gospodarstwa Krajowego was advised by a Clifford Chance team consisting of Warsaw Managing Partner Grzegorz Namiotkiewicz, Counsel Irena Floras, Senior Associate Katarzyna Jakubiak, and Associate Piotr Weclawowicz.

Boryszew was represented by in-house counsel.

When contacted by CEE Legal Matters, Clifford Chance said it had no additional information about the firms representing Brandenburg or PKO Bank Polski Niederlassung Deutschland on the deal.

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